• Main
  • Analytics
  • Market News
  • Italian consumer price growth stabilized in June
Economic news
28.06.2024

Italian consumer price growth stabilized in June

Preliminary data published by the National Institute of Statistics (ISTAT) showed that in June, consumer prices rose by 0.8% per year after a similar increase in May. Economists also expected growth of 1.0% per annum. Price growth has slowed of unprocessed foods (from +2.2% to +0.4%), of services related to recreation, including repair and personal care (from +4.3% to +4.0%) and of durable goods (from -0.7% to -1.1%). On the contrary, the prices of non-regulated energy products (from -13.5% to -10.3%), of regulated energy products (from +0.7% to +3.6%) and of processed food (including alcohol and tobacco) (from +1.8% to +2.2%) have increased.

ISTAT said that the core CPI - excluding energy and unprocessed foods - rose by 2.0% per year, as in May. CPI growth excluding energy slowed to 1.9% per annum from 2.0% per annum in May.

On a monthly basis, the CPI rose 0.1% after an increase of 0.2% in May. Economists had expected an increase of 0.2%.

The data also showed that in June, the harmonized index of consumer prices (HICP) - an indicator that allows to compare inflation in Italy with inflation in European countries - rose by 0.2% on a monthly basis and by 0.9% per year. In May, HICP increased by 0.2% over the month and by 0.8% per annum.

See also